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The Situation in the Market and Business Challenge

Overall, digital and conversational banking is not very well-developed in Kazakhstan, compared to the rest of the world. Still, these services have the great potential to provide a competitive advantage to those financial institutions that implement them. No wonder that according to statistics, the global chatbot market value will grow to $102.29 billion by 2026. Besides, by 2023 chatbots are expected to save $1.2 billion and 862 million hours globally. Our client wished to follow the chatbot trend and to use its extensive potential. Thus, we were requested to develop a smart chatbot that could help to digitalize the service of card issuing for the customers.

Our Solution: Smart Chatbot that Enhances the Customer Engagement

We developed a smart chatbot for our client that offers the bank customers to issue cards of different types:

  • Junior Card for children.
  • Travel Card for travelers.
  • Iron Card for premium customers.
  • Payment Card for everybody.

Besides card issuing functionality, customers could search for the closest ATM, depending on the geolocation as well as connect with bank’s customer support, whenever it is necessary.

Different Payment Cards of the Bank _ imageDifferent Payment Cards of the Bank

Benefits of Our Smart Banking Chatbot for the Bank

The chatbot for our Kazakhstani customer has the following benefits:

  • helps to increase engagement with the clients;
  • allows to optimize and increase the performance results of the bank, helping the business to grow;
  • gives the possibility to cut costs on personnel and to decrease waiting times in the brick and mortar branches, thanks to the digitalization of the card issuing process.
  • improves customer service for the clients of the bank and ensures a smoother customer journey.
  • allows reaching better scalability of banking customer support thanks to the automatization of simple tasks (for example, the customer does not need to reach out to a service agent to discover where the closest ATM is, since it can be done quickly through the bot).

Banking chatbot_image

 

Benefits of Our Smart Banking Chatbot for the Clients of the Bank

The main benefits of our smart banking chatbot for the clients of the bank are: 

  • provides clients with an easy, convenient, and fast-paced communication tool.
  • allows the clients to get 24/7 support, that exceeds the regular working hours of the brick and mortar branches.
  • provides immediate feedback for the client.
  • brings the client an opportunity to find the necessary information on banking services.

Technologies Used for Creation of the Smart Chatbot for our Client

The key technologies that were used for the development of our smart chatbot:

  • NodeJSan open-source, cross-platform JavaScript runtime environment that executes JavaScript code outside of a web browser.
  • Node-RED – a popular visual low-code programming development tool from IBM.
  • Postgresql – a free reputable object-relational database system that functions on SQL.
  • Redis – effective open-source, in-memory data structure store, utilized as a message broker, cache, and database.

The bot integrated with bank APIs, which used the Individual Taxpayer Number to check whether the person is the client of the bank or not. Besides, the bot connected with API card issuing system.

 

Business Results of Our Solution

Our solution has brought the following business results:

  • decrease in expenditures for customer service personnel.
  • increase in profits thanks to the fast issuing of digital cards in the bot (it is not necessary to go to the bank to get the card).
  • improved performance indicators.
  • better customer engagement with a personalized experience.
  • opportunity to decrease waiting time to the service specialists in the brick and mortar branches.

Need a custom-made banking chatbot for your business? Contact us, and  we will help to choose the best solution for your business

You are welcome to read the other cases in our case study section to explore the other solutions that our company developed.

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